Richard is saved by his landlord-slash-investor-slash Steve Jobs Wannabe, Erlich Bachmann, who spends 90% of his time loafing around the house in his robe and 10% of his time telling people he owns 10% of Pied Piper. In this episode Erlich manages to channel his bravado into something useful, as he swoops in to articulate the larger vision for Pied Piper to their venture-capital backer Peter Gregory.

So, what exactly is Pied Piper?

It’s a data storage company and a direct competitor of Dropbox.

Seriously.

(This, of course, should be seen as a testament to Mike Judge, who was able to get HBO to greenlight a show about the rise of a file storage company.)

Here’s the pitch: “Today’s user wants access to all of their files, from all of their devices instantly. That’s why cloud-based is the holy grail. Now Dropbox is winning, but when it comes to audio and video files they might as well be called Dripbox. Using our platform, Pied Piper users would be able to compress all of their files to the point where they truly can access them instantly, we control the pipe they just use it. That’s the vision in Richard Hendriks’s head.”

What the episode got right:

The use of the word “pivoted.” No explanation needed here.

Peter Gregory’s toga party, starring Flo Rida. If I had a dollar every time I saw a venture capitalist on stage with a rap star, I’d have like $8, which is pretty impressive if you think about it.

FOMO. Pied Piper employee Jared Dunn gets a serious case of FOMO (fear of missing out) when his friends go to the toga party without him. Silicon Valley does have a particularly virulent strain of FOMO.